If you lease buildings, office space or equipment, imminent changes in accounting standards are expected to make an impact on your financial statements as well as your real estate and equipment planning and strategy.
New accounting requirements that will replace FASB 13, now out for public comment, are expected to significantly change the current accounting framework for leased real estate and equipment. The new accounting proposal will eliminate the off-balance sheet accounting currently used for operating leases, introduce new contractual assets and liabilities to balance sheets and provide a new accounting framework for lessors. These changes will likely require you to adapt internal systems, look critically at existing and future contractual arrangements and revisit your strategic decision-making.
The presenters will discuss the anticipated changes to FASB 13 from an accounting, internal systems, operations and strategic perspective.
At the conclusion of this session, participants will be able to:
Help organizations look more closely at purchasing a building vs. leasing
- Assess whether changes in existing approaches to property and equipment financing are needed
- Help organizations look more closely at lease/purchase strategies and decisions
- Describe the impact of the accounting proposal on owners, financing sources and other stakeholders
- Prepare for internal process and system changes that will be needed
Presenters: John Woods, member of Plante Moran's professional standards team, Bill Lichwalla, President & CEO of Plante Moran CRESA. Moderator: Cameron McCausland, Director of Transaction Management, Plante Moran CRESA.